Month: July 2018

Singapore Airlines Launches Blockchain Digital Wallet ‘KrisPay’ for Travelers

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Singapore Airlines, one of the world’s leading and best-rated airline operators, has launched KrisPay – a digital blockchain wallet that allows frequent fliers to convert airmiles into digital currency. Announced on Tuesday, the digital wallet app will be accessible for users of the airline’s ‘KrisFlyer’ frequent flyer program and will use blockchain technology to enable travelers to spend their air miles at retail establishments, hotels, petrol stations and other partner merchants in the island nation. As reported previously in February, SIA will use its own private blockchain developed with technology…

Indian Crypto Exchange Unocoin Suspends Fiat Deposits, Withdrawals in Wake of RBI Ban

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Unocoin, a major Indian crypto wallet provider and exchange, has suspended rupee (INR) deposits and withdrawals “as per orders” from the country’s central bank, according to Unocoin’s blog post July 23. Unocoin notified its customers that fiat deposits and withdrawals are “temporarily disabled” until “an alternative method of funding is identified and deployed.” Meanwhile, crypto asset deposits continue to be active on both Unocoin’s crypto-rupee trading platform and partner crypto-crypto exchange Unodax. Unocoin users can also continue to use their existing rupee balance to buy and sell Bitcoin (BTC) and…

Libertarian Party Gubernatorial Campaign to Accept BTC Despite Unclear Legal Framework

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The Libertarian Party candidate for Wisconsin governor will accept Bitcoin (BTC) donations despite the state’s Ethics Commission’s finding them a “serious challenge” to compliance with state law, local news agency the Milwaukee Journal Sentinel reported July 23. Earlier this spring, the Wisconsin Libertarian Party had asked the State Ethics Commission to clarify whether the use of cryptocurrency for political contributions is legal. In May, the Commision had passed the matter to the Wisconsin Legislature, noting that “allowing cryptocurrency donations presents a serious challenge to the commission’s ability to ensure compliance…

Indicator Suggests Bitcoin’s $8K Price Rally Could Be Overstretched

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Bitcoin (BTC) has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate. The leading cryptocurrency rose to a two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week. The 40 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical indicator is…

Bitcoin Breaks $8,000 as Selected Alts See Slight Recovery

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July 24: Bitcoin (BTC) broke through the $8,000 price point this morning, as the top cryptocurrency continues to outperform most other crypto assets, according to data from Coin360. In the days following the strong upswing that kicked off across the crypto market on July 16 and accelerated further on July 17, Bitcoin has sustained positive momentum while other alts slid into negative territory. Market visualization from Coin360 Bitcoin (BTC) is trading around $8,009 to press time, up 3.9 percent on the day. The leading asset gained over $200 dollars within…

How Cryptocurrency Prices Work, Explained

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4. Tracking the price of Bitcoin gives us a good indication of the overall cryptocurrency market in the past 18 months. Bitcoin started 2017 at under $1,000 and took a dip when China announced investigations into cryptocurrency exchanges in the country. At that point, the majority of Bitcoin trading took place in China, and the price of Bitcoin dropped to lows of around $775, while the overall cryptocurrency market cap stood at close to $15 billion. Bitcoin made a slight recovery to well over $1,000 but by March 2017, dropped…

General Electric Participates in Blockchain Startup Xage Security’s $12 Mln Funding Round

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The venture capital arm of General Electric (GE) has joined a $12 million investment round in blockchain startup Xage Security in order to develop its security fabric for industries from energy to building management, a press release confirmed July 23.   The $12 million Series A funding round, led by March Capital Partners, included participation from GE Ventures as well as City Light Capital and NexStar Partners. Xage — which uses blockchain to allow tamper-proof communication between infrastructure and devices in the energy, telecom, utilities, building management, and manufacturing industries…

The Rise of Blockchain-Powered Trade Finance Platforms

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Although they don’t hold the same disruptive promise of radical decentralization as do their permissionless counterparts, private blockchains that governments and corporations run are still capable of transforming entire sectors of the world economy. Global trade has long been viewed as one of the most conspicuous areas for instrumental application of distributed ledger technology (DLT), with both trade finance and supply chains relying on antiquated, unreliable systems of record keeping and trust management. The recent news that Hong Kong’s financial regulator and a conglomerate of banks are poised to roll…

Liverpool Taps Blockchain to Be World’s First ‘Climate Positive’ City by 2020

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The Liverpool City Council (LCC) has announced a partnership with Poseidon Foundation to help reduce the city’s carbon emission. Over the coming months, the LCC and the Poseidon Foundation will test out a new carbon credit system which is expected to cut the city’s carbon emission, according to a local publication. According to its white paper, among other things, Malta-based Poseidon Foundation uses the blockchain “to make and track an impact where it matters most-forest conservation.” The non-profit’s decentralized platform is currently being used in the UK to cut the…

Bitcoin Price Watch: BTC/USD Breaks $8,000, Next Target $8,500

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Key Points Bitcoin price gained momentum and broke a key resistance at $8,000 against the US Dollar. There is a key connecting bullish trend line in place with support at $7,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct a few points, but it remains in an uptrend towards $8,500. Bitcoin price is climbing higher above $7,800 against the US Dollar. BTC/USD broke the $8,000 resistance and it looks set for more upsides in the near term. Bitcoin Price Analysis Yesterday, we…